Chipmos Technologies (NASDAQ:IMOS) Issues Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Chipmos Technologies (NASDAQ:IMOS) issued its earnings results on Tuesday. The semiconductor company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16, FiscalAI reports. Chipmos Technologies had a return on equity of 3.28% and a net margin of 3.05%.The business had revenue of $231.81 million during the quarter, compared to the consensus estimate of $236.95 million. During the same period in the previous year, the company posted ($0.51) earnings per share. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis.

Chipmos Technologies Trading Up 5.6%

NASDAQ:IMOS opened at $56.02 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.40 and a quick ratio of 2.08. The firm has a 50-day moving average of $61.00 and a 200-day moving average of $49.25. The company has a market cap of $1.97 billion, a PE ratio of 75.91 and a beta of 1.35. Chipmos Technologies has a one year low of $15.06 and a one year high of $78.35.

Chipmos Technologies Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, July 24th. Stockholders of record on Monday, June 29th were issued a dividend of $0.7826 per share. This is an increase from Chipmos Technologies’s previous annual dividend of $0.61. This represents a dividend yield of 134.0%. The ex-dividend date was Monday, June 29th. Chipmos Technologies’s dividend payout ratio is 86.49%.

Analyst Ratings Changes

Several analysts have recently commented on IMOS shares. Wall Street Zen downgraded shares of Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “hold (c-)” rating on shares of Chipmos Technologies in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Hedge Funds Weigh In On Chipmos Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its position in shares of Chipmos Technologies by 51.4% during the second quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company’s stock valued at $681,000 after buying an additional 12,759 shares during the last quarter. Bank of America Corp DE raised its position in Chipmos Technologies by 71.8% in the 2nd quarter. Bank of America Corp DE now owns 11,852 shares of the semiconductor company’s stock valued at $215,000 after buying an additional 4,952 shares during the last quarter. Parallel Advisors LLC raised its position in Chipmos Technologies by 44.4% in the 3rd quarter. Parallel Advisors LLC now owns 6,142 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 1,890 shares during the last quarter. Quadrant Capital Group LLC bought a new position in Chipmos Technologies during the 3rd quarter valued at $219,000. Finally, Allworth Financial LP raised its holdings in shares of Chipmos Technologies by 74.7% in the third quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 587 shares during the last quarter. Institutional investors and hedge funds own 7.39% of the company’s stock.

Chipmos Technologies Company Profile

ChipMOS Technologies Inc is a Taiwan‐based provider of outsourced semiconductor assembly, testing and packaging services. The company offers a comprehensive range of back‐end solutions including wafer probing, assembly, surface mount and final test services for memory chips, microcontrollers, system‐on‐chips and other integrated circuits. ChipMOS serves customers in the consumer electronics, communications, industrial and automotive markets by delivering reliable testing and packaging support to semiconductor fabless companies and foundries.

Founded in 1997 and headquartered in Hsinchu, Taiwan, ChipMOS operates multiple production facilities across Asia, including sites in Taoyuan (Taiwan), Guangdong Province (China) and Singapore.